What they are How markets are segmented Market Segments What they are How markets are segmented

What is it? Market Segments = part of a market that contains a group of buyers with similar buying habits The way a business segments its market depends on the product being sold and the customer

Segmenting the Class How many different ways can you think of to segment the class? Month of birthday Where we live Ethnicity Language spoken Games console used

How To Segment the Market Age Gender Income Area Ethnicity Religion Socio-economic group (according to job)

Socio Economic Groups 1 - Higher managerial and professional occupations 2 - Lower managerial and professional occupations 3 - Intermediate occupations 4 - Small employers and own accounts workers 5 - Lower supervisory and technical occupations 6 - Semi-routine occupations 7 - Routine occupations 8 - Never worked and long-term unemployed

ACTIVITY You have been given a picture of a product. With this product you are to prepare a presentation showing all the market segments that it is aimed at or appeals to. You are then to work out how this product can be changed in order to appeal to another market Do not forget to include all the aspects that we talked about. You are to prepare a presentation in the context of a mind map to present in the class today. You have 20 minutes to prepare and then you will present to the rest of the class.